BlackRockBLKRevenue: is the business selling more than it used to?
$24.2B+19% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Revenue reached $24.2B in 2025, compounding +11% a year since 2022 and the pace is picking up. The trailing twelve months are already running at $27.3B, ahead of the last full year.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlackRockBLKNet income: how much of that revenue becomes profit?
$5.6B−13% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Net income was $5.6B in 2025, compounding +2% a year over three years. Trailing twelve-month profit stands at $6.6B.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlackRockBLKHow fast is it growing, year by year?
+18.7%revenue growth, FY 2025
→Revenue grew +19% in 2025 against a five-year average of +11%. Earnings went the other way (-13%) even as sales grew, so margins compressed: costs rose faster than revenue.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlackRockBLKRevenue per share: is your slice growing as fast as the company?
$150.53revenue per share, FY 2025
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→Revenue per share reached $150.53 in 2025, compounding +9% a year against +11% for BLK as a whole. Dilution absorbed about 2.0 points of that growth. Free cash flow per share stands at $22.08.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlackRockBLKFree cash flow: what is left in real cash after everything?
$3.6B−24% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Free cash flow was $3.6B in 2025, compounding -7% a year since 2022.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlackRockBLKHow much of every sales dollar ends up as free cash?
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→15 cents of every sales dollar became free cash in 2025, down 10 points since 2022 - its weakest conversion on record.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlackRockBLKWhat does staying competitive cost, per dollar of sales?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→The biggest claim on each sales dollar is stock compensation, at 5% of revenue (capital spending 2%). That share has risen since 2022, so the cost of competing is climbing.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlackRockBLKMargins: of every $1 of sales, how much survives each cost layer?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→Operating margin compressed 7 points to 29% since 2022. After everything, 23 cents of each sales dollar reaches net profit. BLK doesn't tag a gross-profit line in its filings, so the chart starts at operating margin.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlackRockBLKWhat does it earn on the money it uses?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→BLK earns 11% on shareholders' capital. Return on capital employed isn't meaningful for this business model, so ROE carries the picture alone.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlackRockBLKWhat has the market paid for BLK over time?
27.5xP/E today
◌ 2026 = at the latest close (2026-09-04), over the trailing twelve months; earlier years are annual averages
→At 27.5x earnings, the market is paying +39% more than BLK's own 4-year median of 19.8x. Expectations are elevated, so more has to go right to justify the price.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlackRockBLKWhat cash return does the business throw off per dollar of market value?
2.0%FCF yield today
◌ 2026 = at the latest close (2026-09-04), over the trailing twelve months; earlier years are annual averages
→Every dollar of market value currently buys 2.0% of annual free cash flow, less than its 4-year median of 3.9% - you are paying up for the same cash.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlackRockBLKCould it handle its debt if things went wrong?
→Debt of $12.7B sits against $10.5B of cash, or 0.2x shareholders' equity. Earnings cover the interest bill 16 times over, so the debt is comfortably serviced.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlackRockBLKIs the company's own capital growing?
→The company's own capital grew from $39.3B in 2023 to $57.6B (+46%). The business is building book value rather than consuming it.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlackRockBLKHow much goes back, and how much leaks out as stock comp?
→Shareholders received $1.9B in buybacks and $3.1B in dividends in 2024. Stock compensation issued $1.3B of new shares in the same year, offsetting 26% of that.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlackRockBLKHow fast is your ownership being diluted - or concentrated?
→The share count grew 6.1% in 2025, averaging 1.9% a year over three years. Your slice of the company shrinks by that much each year unless earnings grow faster.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlackRockBLKIs the dividend cheque growing?
→The dividend per share reached $20.45 in 2024, compounding +2% a year since 2022.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlackRockBLKCan it afford the dividend?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→The dividend consumed 49% of profit and 66% of free cash flow in 2024. That leaves room to keep paying through a weak year.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlackRockBLKBLK has issued or retired shares - did shareholders end up better off?
→BLK issued +6% more shares from 2022 to 2025, but revenue per share still rose +28%. The dilution bought more growth than it cost existing holders.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlackRockBLKAre the people running it buying or selling?
→Insiders sold $137M on the open market and bought nothing. Many sales are pre-scheduled diversification rather than a view on the price. A further 33 filings were grants, option exercises or tax withholding, which say nothing either way.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30